When it comes to how to sell your flip fast, focus on 5 fundamental steps that will sell it fast. You’ll earn your money back at the same rate, plus some.
Whether you rehab a home in warm state such as Florida,Arizona, California, or Texas or fix up a home in states with milder climates such as Washington State, Utah, Virginia, Colorado, or North Carolina, the same principles apply. Experts say the first tip is to pick the right property from the start.
Make sure it’s an appropriate size, in a good neighborhood at the right cost (try to get a bargain). Now..how to sell your flip. Although some people hire a realtor, you can also sell the home yourself by advertising it on real estate sites and hosting open houses.
The right price
Ideally, you will receive multiple offers above your asking price. To generate interest, it’s important to price the home to sell. Check all the real estate comps in the area. If possible, take a quick tour of similar homes for sale in the same neighborhood. Avoid projecting you own biased opinion of how much the home is worth based on how much time you spent rehabbing it. Instead, look at figures, facts and reasonable data.
After each contractor completes a job, take the time to inspect the work. Taking a hands-on approach often prevents time-consuming errors. If you don’t plan to take a hands-on approach, hire a manager you can trust to oversee the rehab. Check to make sure everything is in working order. Pretend you are the home owner, walking through the home with his or her perspective in mind. Also, clean the home thoroughly so it smells fresh, and don’t forget the windows.
To sell your flip quickly, design the space with appropriate furniture and décor. Rugs are good because you can bring them in and out of the property after you have sold it. Rugs add a splash of color and design as well as texture and comfort. If you plan to continue rehabbing homes for years to come, invest in a few key pieces of furniture in basic colors. For example, brown leather sofas and basic dining room sets work as interchangeable staging props in a variety of modern, contemporary or traditional homes.
When you flip a home, you don’t have time to plant a three-foot oak tree that will grow into a giant tree for the open house. At the same time, mature plantings cost more money. It’s better to work with the trees already in place, trimming them if they rub against each other or the house. Some simple improvements include adding flowers to the beds, using pine bark mulch and adding an outdoor focal point such as a small gazebo or pergola. In tropical states, an inexpensive palm tree adds to the curb appeal. Yellow flowers at the entryway often elicit happy feelings.
Most people know about the “wow factor” in a home. It’s the accent wall, dramatic fireplace surround, amazing tile backsplash or gorgeous kitchen cabinets that sell the home. The best advice is to create several wow factors throughout the home. Make one bedroom stand out compared to the other bedrooms. Take advantage of any architectural features or original stained glass windows or antique fixtures.
The longer you take to sell your property, the less money you walk away with due to carrying costs. At Center Street Lending, we work hard as a progressive, private money lender.
Talk to us about investment property loans with turnaround time in as little as 24-hours. Our loan application process is quick and easy, and we don’t require a lot of documentation from real estate investors who want to flip a home for profit. For more tips on how to sell your flip and secure financing for non-owner occupied investment properties, please contact us today.